Mr Cooper Group Inc (COOP)

[tcr7309]

You are so right on the point that jpm was in deep, deep trouble. I remember the situation like it was yesterday and I researched the heck out of it at the time. The rumor was the Paulson went to Goldman, ie, Blankfein and asked him what is going on, why is everything crashing, Blankfien played dumb. A month went by and he went back to Blankfien and told him directly to tell him what the f is going on. Blankfien finally confessed that they were caught up in huge losses related to synthetic cdo's. Blankfien then told him not to worry we are insured through AIG. Paulson at the time knew he had to do anything in his power to bail out AIG to keep Goldman liquid and afloat. Then Paulson went to JPM and snake oil salesman, Jamie boy, and asked him if they were caught in the synthetic cdo's and Jamie boy said yes, Paulson said don't worry we are going to bail out AIG so you will be protected. Jamie boy had to tell him something that Paulson was shocked about, JPM's synthetic cdo's were not insured by AIG because supposedly they did not want to pay the premiums, so Jamie boy had to tell Paulson that jpm was self insured. Paulson supposedly said wtf did you do. That is when Jamie boy told Paulson that all they need is liquidity and he knows where they could get it. Remember, jpm knew wamu's books backwards and forwards because in the spring they made an offer to buy wamu before wamu was bailed out by .....( i forgot the name of the firm). So the only way to save jpm was to sacrifice wamu to get jpm the liquidity they needed otherwise they were dead, ie, bankrupt and Paulson could not let the prestiges goldman or jpm go Bk, to big and important to fail, and the rest is history.

Is this all true, is it partially true or complete b.s. I DON'T Know but this is what I have heard and read. All in my opinion and mine alone. Will I give up my sources, no way, I'm pleading the fifth and shutting up just like the cowards at jpm and goldman and wamu execs have done to protect their own azzes, so sad but I believe true. Take it with a grain of salt, believe it or not. Let me add one more thing. Think occams razor!!!!